KUALA LUMPUR (Nov 23): In a rare and sudden move, the ringgit weakened sharply against the US dollar to 4.1100 during afternoon trades today before quickly strengthening past the 4.1000 level against a weakening US dollar.
Similar trends were seen in ringgit trades versus other currencies.
At the time of writing, the ringgit strengthened 0.02% to 4.0918 against the US dollar. The exchange rate so far today was between 4.0865 and 4.1100.
The US Dollar Index, which measures the strength of the US dollar against a basket of major currencies, fell 0.16% to 92.2420. The index’s range so far today was between 92.2030 and 92.3760.
Compared to other currencies, the ringgit strengthened 0.03% versus the euro at 4.8570 after weakening sharply to 4.8789. The exchange rate so far today was between 4.8523 and 4.8789.
Against the Singapore dollar, the ringgit was transacted at 3.0491 after depreciating sharply to 3.0621. The exchange rate so far today was between 3.0447 and 3.0621.
At the time of writing, Bank Negara Malaysia had not issued a statement on the ringgit’s trading dynamics today.